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20121211
20121211
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Search Results 0 to 49 of about 52 (some duplicates have been removed)
FOX Business
Dec 10, 2012 10:00pm EST
, is is the b plan -- $25.2 trillion by 2022. mr. obama wants $350 billn in entitlement cuts over the next ten years, mr. boehner wants $800 billion in entitlement cuts, and we're going to see a big, dramatic negotiation. and whatou and i is -- and all of our fellow americans are looking at is the prospect of a recession next year if the president and mr. boehner can't come to an agreement, as much as a 10% unemployment rate because both this president and the republican party, as you can see here, are playing at the margin. and the national media is not focusing on what the realy is. they're just playing games right in washingn.he folks in office andhis president is guilty of class warfare. fo what? for that? are you kidding me? president obama seems to love the drama. i thought he dn't like drama. but the reality iss there will e is little impa our fiscal future. and as nation, after all of the drama and whatever the outcome, we remain in geat jeopardy. because this isn't a fiscal future any of us, any of us wants. >>> morsi declares martial law in gypt and claims he's not a dictator. the
FOX Business
Dec 10, 2012 7:00pm EST
.8, oh, no, that's going to get cut down. it'll amount to $25.4 trillion. if, we'll call it obama wins. the national media waiting for that one. that's what's going to be. it's going to be a really dramatic -- you know, i ought to just trace that line, the change and show you exactly how it changes. this is how that line changes over the course of the next ten years, if the president wins. unfortunately, neither party is offering a serious proposal to trim either our deficit or our debt. the obama plan has $2 trillion in deficit reduction over the next ten years. the boehner plan goes for $2 trillion in deficit reduction, boehner wants, oh, yeah, he's going to kkck tail, all right? we're going to get $2.2 billion in the spending of this country. let me rephrase that. that'll be a $2.2 trillion reduction in the total planned spending. the growth of our spending will alter, it'll be just about that line right there. we're potentially looking at the republican plan, well, in 2020, i guess the best way to show you is just how tough it is. we'll only have a deficit and a debt, a national de
CSPAN
Dec 11, 2012 7:00am EST
offered about $400 billion in medicare cuts as a starting point. president obama seems to be going to the mat on raising the top tax brackets for houses burning $250,000 or more, and this is what the republicans for political and historical reasons have had the most trouble. host: house republicans, according to "usa today," -- guest: the best indicator of that would be the budget passed by the house by paul ryan, and it includes budget category cuts lead in transportation, or social services for income security. it does not get to the specific program-level, but he is talking about a 26% cut in transportation, which analysts have extrapolated and could mean a huge cuts in the number of air-traffic controllers, for example which would cause flight delays and cancellations. they would have to get more specific later on. that is the general framework. host: how much does domestic spending consume of our federal government? guest: well, if they cut $38 billion, we have a $3.5 trillion annual budget, and a thoughtful approach is about $1.2 trillion. this small compared with social sect
CBS
Dec 10, 2012 5:00pm PST
to compromise on tax hikes and spending cuts. ed to president obama hit the road to rally support from his plan. cbs reporter danielle nottingham has the latest from washington. >> president obama's public campaign to steer clear of the fiscal cliff took him to a diesel engine planted detroit. >> if congress doesn't act soon, meaning in the next few weeks, starting on january first, everybody's going to see their income taxes go up. >> private face to face talks were revised this weekend when house speaker boehner went over to the white house. neither side is releasing details about the conversation, but taxes are still the big sticking point. >> i'm not going to have a situation where the wealthiest among us, including folks like me get to keep all our tax break. >> while republicans have adamantly opposed raising taxes, now some are considering it if democrats agree to social security and medicare changes. republicans were disappointed with the proposed spending cuts in the president's first offer which do not include changes to entitlement programs. >> we have got to do something about the s
FOX Business
Dec 10, 2012 8:00pm EST
the obama arithmetic that $1 trillion we have already cut. >> 800 billion for the board that would be financed anyway, there has to be real cuts happening at the same time. neil: rudy guiliani. i am headed to washington to save us from the mess. be where. i am coming. girl: n't look at me. second girl: your hais a bit frizzy tod. aw! ha ha! you shoulpick at up. announcer: every day, kids witness bullying. poor youha ha! they want to hel but don't know how. teach your kids how to be more than a bystander. visit stopbullying.gov. ♪ grew up in a all town and when the rain would fall down ♪ ♪ i'd just stare ou my window ♪ ♪ dreaming of what could be and if i'd end up happy ♪ ♪ i would pray i could breakaway ♪ i'll spread my wings and i'll learn how to fly ♪ i'll do what it takeses till i touch the sky ♪ ♪ i gotta take a risk, take a chance, me a change, and break away ♪ ♪ wanna feel the warm breeze, sleep under a palm tree ♪ ♪ feel thrush of the ocean ♪ ♪ get on board a fast train, traveon a jet plane far away ♪ ♪ and bak away ♪ out of the darkne
FOX Business
Dec 10, 2012 11:00pm EST
been. what d the obama arithmetic that $1 trillion we have already cut. >> 800 billion for the board that would be financed anyway, there has to be re cuts happening at the same time. neil: rudy guiliani. i am headed to whington to save us from t mess. be where. i am coming. but we c still help you see your big picture. with the fidelity guided portfolio summary, you choose which accounts to track and use fidelity's analytics to spot trends, gain insights, and figure out what you want to do next. all inne place. i'm meredith stoddard and i helped create the fidelity guided portfolio summary. it's one more innovative reason serious investors now get 200 free trades when you open an account. we don't let frequent heartburn come between us and what we love. so if you're one of them people who gets heartburn and then treats day afr day... block the acid with priloseotc and don'tet heartburn in the firsplace! [ male annncer ] e pill eachmorning. 4 hours. zero heartbur neil: as if i am n busy enough but this super heroes day is never done after talking to astronauts now trying to get washi
FOX News
Dec 11, 2012 12:00pm PST
gathered inside the statehouse saying the law could lead to big pay cuts. yesterday, president obama spoke out against it forcefully. 23 states, the ones in yellow, have the right-to-work laws. to pass in the state of michigan is a huge development. that is the heart of organized labor. a defeat there could signal trouble if unions across the nation. we have mike tobin from the capital in lansing. what is the status of the legislation? >>reporter: a bill regarding right-to-work for public sector employees is on the way to the governor's desk. a similar bill for private employees is hung up by a motion to reconsider which needs to be approved by the legislature falling on party lines. the motion will fail. it is a way of saying the bill related to private sector employees is on the way to the governor's desk but taking a longer time to get there. the democratic leadership will admit right-to-work is going to be a reality in the cradle of organized labor. >>shepard: what is the scene like? >>reporter: it is calmed down. there was a dustup earlier. there was only one other incident, a female
CSPAN
Dec 11, 2012 10:00am EST
. president obama has not offered a specific plan for spending cuts. he has offered economic stimulus for job creation, but he has offered about $400 billion in medicare cuts as a starting point. president obama seems to be going to the mat on raising the top tax brackets for houses burning $250,000 or more, and this is what the republicans for political and historical reasons have had the most trouble. host: house republicans, according to "usa today," -- guest: the best indicator of that would be the budget passed by the house by paul ryan, and it includes budget category cuts lead in transportation, or social services for income security. it does not get to the specific program-level, but he is talking about a 26% cut in transportation, which analysts have extrapolated and could mean a huge cuts in the number of air-traffic controllers, for example which would cause flight delays and cancellations. they would have to get more specific later on. that is the general framework. host: how much does domestic spending consume of our federal government? guest: well, if they cut $38 billion, we ha
MSNBC
Dec 11, 2012 7:00am PST
cliff hostage. and that's really unacceptable. president obama has put spending cuts on the table. he's put an increase in the tax rates for the wealthiest americans on the table. we've put making sure that we have p get a tremendous amount of savings out of the entitlement programs. what have the republicans put on the table? virtually nothing. it is time to be rational and compromise. >> to that point, what haley barber said this morning about the possibility of compromise. he was on "morning joe" today. >> as a republican, i would take raising the rates on the two top brackets if, in return, we had tax reform laid out over a period of months, if we had entitlement reform. i would hold my nose despite the facts that raising those two tax is bad economics, bad for jobs, going to hurt the economy. i would hold my nose to get the other done. what i wouldn't do is vote for that and do nothing else. >> does he have a point? are democrats really prepared to deal with entitlement reform to maybe substantive cuts, the kinds the republicans are calling for? >> chris, hail by barbour mentione
CSPAN
Dec 11, 2012 5:00pm EST
. >> speaker boehner said he'd waiting on president obecause mo -- obama to outline the spending cuts. that's a strange thing for the speaker to say. president obama outlined specific cuts in his proposal to the republicans. while republicans have not offered anything specific in cuts whatsoever, and of course nothing specific in revenue whatsoever. all generalizations. the republicans want more spending cuts, tell us what you want. that's what i say to them. we can't read their minds. we're not going to make the proposal for them. republicans know perfectly well that democrats are willing to make tough choices on these issues, if in fact they understand, which i hope they do by now, that we're going to look out for the middle class first. the only thing standing in the way of an agreement is republicans. their insistence on holding tax cuts for middle class families hostage to the fiscal cliff. there's a lot of bluster coming from republicans but that facade is crumbling quickly. every day we read about more republicans breaking rank, calling on the speaker to allow tax rates to rise on th
CSPAN
Dec 11, 2012 12:00pm EST
: they have more emphasis on spending cuts than president obama and john boehner has come up with about $2.2 trillion plan over 10 years. he offered 800,000, i'm sorry, 800 billion in revenues, which he would like to get from tax reform, broadening the base, removing some of the tax deductions. without raising the income tax rates on the higher income households. and that is the sticking point. president obama has offered not real specific plan for spending cuts. in fact he has offered to, he wants to do a little bit of economic stimulus for job creation. but he has offered about 400 billion in medicare cuts as a starting point. but president obama is, seems to be going to the mat on raising the top two tax brackets for households earning 250,000 or more. and this is what the republicans, political and for historical reasons have had the most trouble with. >> host: house republicans according to the "usa today", we're looking 300 billion in mandatory savings and 300 billion in discretionary savings. that is their proposal so far put out by the speaker. what are we talking about here? >> gu
FOX News
Dec 11, 2012 1:00am PST
's fairly aapparent that barack obama has put no meaningful cuts, spending cuts on the table. anybody who pays attention knows that. the president does not want a cut. he wants the big government. he wants to spend. in fact, he wants 500 million more to throw into some stimulus that hasn't worked the first two times he tried it. why do the american people say it's the g.o.p.'s fault when the president obviously isn't giving anything at all up? >> well, bill you know that and i know that in part because we watch fox news, and fox news reports it that way which is the straight forward way to report it. you can find that out from the other media, but you have to read it carefully because it's not apparent. all the conversation, all the discussion, all the news that's made in this whole discussion since the end of the election has been about what? it's been about tax rates on the rich. >> bill: right. >> that's been the whole story. the fact that the president hasn't come forward with anything meaningful on the spending side, especially on the entitlement side, it's possible to find it but it
FOX News
Dec 10, 2012 4:00pm PST
says president obama believes he can cut a deal with house republicans to keep from all going over the fiscal cliff. the president is refusing to compromise on letting tax cuts expire on incomes of more than $250,000 a year. g.o.p. leaders are calling that a job killer and a deal breaker. of course, if we fall off the fiscal cliff, we'll all die, right? actually, taxes will go up for pretty much everybody and automatic spending cuts kick in on knew year's day. the president and the house speaker met face-to-face just yesterday for the first time since the election, but are they talking about it? no. today an aide said the speaker is willing and still waiting for counteroffer from the president. ed henry is live at the white house. i don't know, ed. a meeting happens and nobody says anything. this could be seen as something more good than bad. >> reporter: exactly. because they didn't come out of the meeting beating each other up and saying i'm never going to sign a deal with the other guy. the fact that they're keeping this quiet, hush hush for now in terms of the details of what t
FOX Business
Dec 11, 2012 12:00am EST
big ones start january 1st. that is one part. part two, the bush tax cuts disappearing. that is $500 billion tax increase next year, 2013. and then the third part which is the spending rerain sequester, which obama wants to put off. that would save 1.2 trillion over a decade. he wants to put it off and spend the 1.2 trillion. melissa: all true but you know what? at this point it seems like it is not resonating with the averaae american. go out and loo at polls. quinnipiac said 77% of all republicans think it is a bad idea for lawmakers to promise never to raise taxes. >>o, no, read that poll. melissa: reading it verbatim. >> the question was, ould you not raise taxes on the high income earners, whatever. melissa: to never raise taxes on wealthy under any circumstance? >> okay. the pledge of course is not to raise taxes period. the edge is also to the amer people not to any one group of people. so the good news is, also, whenou ask people, even the ones who say it would be okay to raise taxes on high income people, if we rse taxes for the fiscal cliff or for debt ceiling, do you belie
FOX News
Dec 11, 2012 3:00pm PST
mcconnell fired back that president obama can't get fellow democrats to back real spending cuts. >> we with r running out of time. time to to see if the president is willing to cut any spending at all. >> ia carney held up the president's budget plan again. >> it's not a mystery. we have seen this before. this is the document that contains the specific spending cuths. >> except in that budget, the president includes $100 billion in medicaid cuts. that would have come from shifting more costs to states. yet; just yesterday the department of health and human services revealed it no longer supports those cuts. because the supreme court landmark healthcare decision allows states to opt out of the new laws medicate expansion. when carney was pressed today on how to white house will make up the spending cut, he hedged minutes after demanding more specifics from bane baun on taxes. >> i have to get you more -- see if we have more specifics for you. >> this comes a the white house thinks the heavy pressure from the fellow democrats who today demanded no cuts to any of the health entitle
FOX
Dec 11, 2012 7:00am PST
not be subject to cuts. in the past 48 hours since president obama and john boehner met face to face, no details on the discussions have -- have been released. the president said he's willing to compromise but maintains his stance on tax increases for the wealthy. >> we ask the wealthiest americans to pay 2%. i won't comhe promice on -- compromise on that >> reporter: and then an official came on tv and said they could save money by making tax cuts to the food stamp program. >>> aig is selling off most of its profit and the government will end up with a profit of $22 billion, to many people's surprise. aig was rescued in 2008 just before it had to file for bankruptcy. now aig executives say the company may be able to pay a dividends to the shareholders by next summer. >>> we're learning about an up expected new fee that's part of the reforms. it's a temporary $63 per person fee designed to help pay for people with preexisting conditions. it will hit health plans affecting 9 0 million americans. the -- 90 million americans. the fee will start in 2014. it will last about three years. most of that
CSPAN
Dec 10, 2012 8:00pm EST
, we have the tax cuts, the bush tax cuts and the obama tax cuts which have severely reduced the amount of revenue. the tax burden on americans from the federal government today is an 80-year low. we cannot fund the government with the revenues and loss in jobs that we have. host: cbo has done a study. including all parts of the tax cuts, and you have sequestration, you could increase the budget in very short order. this is a combination. we have had spending increases. the worst spending is dropping precipitously and we're still running a $1 billion deficit. it is about taxes, it is about other spending. in the future it will be about social security and medicare and medicaid, all of which go into negative financing at the end of the decade. guest: the debt doubling has been the consequence of tax cuts, lower revenues, the layoffs that happened and the recession we are still somewhat in. it is not true that all the social entitlement programs are going to the red at the end of the decade -- social security is likely to be very heavily financed by itself right through 2040. medicare has
ABC
Dec 11, 2012 4:00am PST
, with a stalemate over heading off huge tax increases and deep spending cuts at the start of the new year. president obama and house speaker john boehner are keeping tight-lipped about those talks. in michigan on monday, the president warned going over the fiscal cliff will cost jobs and send the country in a downward spiral. >>> colorado is now the second state after washington in which marijuana is now legal. that became the law yesterday, when the governor put a voter-approved amendment into the state's constitution. the implementation of the law will be worked out by a special task force. in a statement, the u.s. attorney noted that pot remains illegal, though, under federal law. >>> well, family and friends are remembering that navy s.e.a.l. who gave his life to rescue an american doctor in afghanistan. abc's senior foreign affairs correspondent martha raddatz has more on the life of this fallen warrior. >> reporter: nicolas checque was just 28 years old. but for much of the last decade he had been a navy s.e.a.l. the last five years, part of the elite s.e.a.l. team six. in iraq, afghanistan, w
MSNBC
Dec 11, 2012 2:00pm PST
the republicans have reached the end of the line. they're hoping obama will show his cards and come out with cuts for entitlements and then they will show something on tax cuts. >> he has no incentive to do anything at least publicly. >> will they show their cards on tax cuts first ? >> they have to. >> who is going to show their hand first. >> the republicans. they're going to have to. obama can stand pat and he's doing it right now. he can be cool hand luke. >> i think that's the way he is playing, very cool. thank you. he's going to force john boehner to come out and say what he wants done to protect the rich people or not protect them. thank you ron reagan, thank you and dana mill ban. >>> a big anti-union vote in mooer michigan is coming up. a right and left going at it. it isn't about gutting unions. a lot of people think so. stf about lowering wages and hurting democrats? you bet. >>> plus the most talked about movie in hollywood hasn't even talked about. it's about torture. many critics say "zero dark thirty" suggests without torture we wouldn't have gotten the guy. it's going to be hot.
CNBC
Dec 11, 2012 12:00pm EST
as usual. boehner was really only talking about the cost cuts that he's looking for from obama. obama's just trying to negotiate. so i don't even know why he spoke today. maybe to throw some cold water on the notion or maybe throw hope. we don't know. the point is ignore the headlines. let's just -- just invest for longer term. >> josh, what do you make of the 100-point move we're seeing in the dow today? it is the fifth straight session that the dow has been higher. we haven't had a stretch like that since march. >> scott, bank of america merrill lynch is out with a report today. they look at fund flows. what they've seen is something remarkable. individuals have been selling. but institutions and he think funds have been net buyers for the last four week institutions have bought an average of $300 million in net worth of stock. what that's telling you is that they're way more concerned with getting in position for next year and whatever the fed's going to do. tomorrow it's widely expected bernanke's going to announce some kind of a transaction in which he buys basically $650 billion
FOX News
Dec 11, 2012 3:00am PST
says that. >> eric: president obama offered zero credible spending cuts. zero. he said, we'll defer spending cuts ten, 20 years down the road if we get the tax increases in the meantime. i think it's time -- brit hume had an idea that it may look like the republicans are going to be the problem if we go off the fiscal cliff. i'm going to tend to disagree with what he's going to say. take a listen. >> the american people say it's the gop's fault when the president obviously isn't giving anything at all up. >> well, bill, you know that and i know that in part because we watch fox news and fox news reports it that way, which is the straightforward way to report it. you can find that out from reading other media, but you have to read it carefully because it's not apparent. all the conversation, all the discussion, all the news that's made in this whole discussion since the end of the election has been about what? it's been about tax rates on the rich. >> right. >> that has been the whole story. >> steve: it should be about spending. there are polls that show 60% of americans say go ah
CBS
Dec 10, 2012 6:00pm PST
a compromise o stop automatic tax hikes and spending cuts. and both sides say they're ready to . cbs reporter danielle nottim on the "sacred cow" that mit be key to the solution. suggested lead: the pres >>> now at 6:30, president obama hits the road to sell his solution for avoiding the fiscal cliff. the president and the house republicans have just three weeks to find a compromise to stop automatic tax hikes and spending cuts, and both sides say they are ready to talk. cbs 5's danielle nottingham on what might be the key to the solution. >> president obama's public campaign to steer clear of the fiscal cliff took him to a diesel engine planted detroit. >> congress doesn't act soon, meaning the next few weeks, starting on january first, everybody's going to see their income taxes gop. >> private face to face talks were revised this weekend when house speaker john boehner went over to the white house. neither side is releasing details about the conversation, but taxes are still the big sticking point. >> i'm not going to have a situation where the wealthiest among us, including folks like me,
MSNBC
Dec 11, 2012 12:00pm PST
and cutting benefits long term and been floated and what this is is obama and the white house have ruled out invoking the 14th amendment aez a work around of not giving the republicans leverage on the debt ceiling and decided to roll a debt ceiling extension in to the fiscal cliff deal whatever they end up striking here and seems to me acknowledging republicans have leverage with cpi and talking about raising the medicare age. my question to you as a progressive is, republicans want something big. is there any big concessions you can see acceptable? >> new york city i really can't. and the kind of things we are talking about, even if they're not -- may not be acceptable to me ever but talking about a version of the changed cpi, the president already said social security is off the table because it is not driving the deficit. that's kind of weird. changes to medicare eligibility again or changes to medicare payments or whatever, it's really complicated to negotiate but i have to say i agree with you, steve. i'm -- i wish that the president hadn't taken the 14th amendment off the table because
CNN
Dec 11, 2012 4:00am PST
pressure might grow so heavy, that whatever mix of tax increases and tax cuts and spending that he wishes, headline is obama must learn to negotiate. do you think that's true? that basically if you get closer and closer to the deadline, that the president can do whatever he wants? he holds the cards. >> i don't think that's true. the president has never waivered from what he said from when the republicans first brought us to the cliff. the first debate for the debt ceiling. he wants a plan big, bold, balanced. we were ready to sign on the dotted line a year ago. the problem was, it was a mix of spending cuts and tax increases on the wealthy and the republicans wouldn't gettive us a nickel of tax increases on the wealthy. the president in a much stronger position. he campaigned relentlessly on the notion to ask the wealthiest to pay more. is he in a better place. at the end of the day, we understand there has to be a compromise. i think the $250,000 figure is too low. i'm not willing to tell all of my constituents that earn below $250,000 that their taxes are going to go up, because i held
FOX News
Dec 10, 2012 6:00pm PST
it when it happens together. >> sean: if they do that, you know and i know the spending cuts aren't coming. what's frustrating to me. speaker boehner co-oped obama's language with raising taxes on the rich. i'm saying, wait a minute, there are things you can do. i thought there was a good piece in the "washington post" today, laying out five steps. stand your ground, go on offense, and pass your plans. >> yeah. one of the things we don't do is, we don't make the point that if we are going to do revenue enhancements, they must be in exchange for spending cuts and should happen together. we can no longer do spending cuts with promised reductions in spending that never happen. >> sean: why aren't we talking about the moral imperative? i think this is a moral imperative. we're borrowing 46 cents of every dollar. we're robbing our children and grandchildren. >> right. >> sean: why isn't that the debate that's front and center? everyone says we ought to raise taxes on the rich. that lasts 8 1/2 days a year. >> obama has co-oped the message, let's raise taxes on the rich, which actually brings ve
ABC
Dec 11, 2012 1:40am PST
to a deal to head off huge tax increases and deep spending cuts at the start of next year. president obama and house speaker john boehner are keeping tight lipped about their closed door weekend talks. but in michigan monday, the president had a warning about going over this now infamous fiscal cliff. >> consumer spending is going to go down. that means you've got less customers. businesses get fewer profits. they hire fewer workers. you go in a downward spiral. >> speaker boehner says he's still waiting for the president to identify spending cuts that he's willing to make to help deal with the nation's debt crisis. >>> thousands of demonstrators are expected to gather at the michigan state capital today in protest of a right-to-work measure. the legislation would bar unions from requiring non-union workers to pay those union fees. democrats met with the governor to urge a veto. and carollers gathered singing modified christmas songs in protest of the proposal. president obama said the legislation is about giving workers the right to work for less money. of course, the president enjoying a
FOX Business
Dec 11, 2012 6:00pm EST
's a washington problem. they won't cut spending. i fear republicans are going to raise taxes to pay for president obama's spending. that's wrong. it's not going to work. that leads us over into a debt ceiling disaster and a possible downgrade of the credit rating. tracy: all we're good at is kicking the can. keep fighting the good fight. don't give up. >> we won't, thank you. tracy: good. we're like beckham, kick, kick. when we come back, is try -- is china trying to take over? a look of their moves inside the u.s.. president obama get his way or boehner or either? who knows. the results of a new report next. copd makes it hard to breathe, but with advair, m breathing better. so now i can be in the scene. advair is clinically proven to help significantly improve lung function. unlike most copd medications, advair contains both an anti-inflammatory and a long-acting bronchodilator working together to help improve your lung function all day. advair won't replace fast-acting inhalers for sudden symptoms and should not be used more than twice a day. people with copd taking advair may have a higher ch
FOX News
Dec 11, 2012 2:00am PST
uncertainty if the white house fail to take action to avert the fiscal crisis or the cliff. president obama tock his message on the road speaking to auto workers to talk about the plan to cut taxes that will go into effect on january 1st if congress fails to act. >> what you need is a package that keeps taxes where they are for middle class families. we make some tough spending cuts on things that we don't need and then we ask the wealthiest americans to pay a slightly higher tax break. >> the president met privately with house speaker john boehner to discuss the matter. in a statement to fox business about that meeting speaker boehner's spokesman said discussions with the white house are taking place but we have no detail to share about the conversations. the republican offer made last week remains a republican offer. we continue to wait for the president to identify the spending cuts he has as part of the balanced approach he promised the american people. if they are going to reach a deal, there is still a lot of work to be done and very little time to do it. experts say a blue print deal
SFGTV2
Dec 11, 2012 4:00am PST
because we have the opportunity here to cut the commute for tens of thousands of people everyday in half by this investment. the vast majority of the people don't own a car. they depend on transit. well today through president obama's leadership, secretarlahood leadership, the vision of the leaders on the stage we are here to commit $942 million to fulfill that promise. [applause] >> with the signing of this grant agreement we are taking $942 million paid by california taxpayers and to create jobs now when we need them. we're also using those dollars to improve the quality of life, and as jackie spear pointed out plan for the future and economic prosperity of this whole area. when this subway extension opens as senator feinstein pointed out there will be 44,000 people using this light rail line. what she didn't point out that will make it the second or third busiest light rail in the united states. this is an environment that needs to be made and once it's built are gone the days when we have senior citizens watching the drive by and waiting for a bus that won't stop and then they ha
MSNBC
Dec 10, 2012 7:00pm PST
it right and said no. today president obama outlined the deficit reduction legislation he would sign into law. >> what you need is a package that keeps taxes where they are for middle class families, we make some stuff spending cuts on things that we don't need, and then we ask the wealthiest americans to pay a slightly higher tax rate. and that's a principle i won't compromise on because i'm not going to have a situation where the wealthiest among us, including folks like me, get to keep all our tax breaks and then we're asking students to pay higher student loans. >> krystal, the republicans are on the run here. the new reel that we get to run every night about the latest republicans saying this is absolutely hopeless is absolutely amazing. limbaugh is an amazing spot tonight saying that he doesn't think that there is any republican that can stop this. >> my favorite has been ann coulter. >> how do you win this if all the rates go up? >> i think they are exactly right. i mean, if you're going to have -- if you're going to get what you want if you're republicans, you have to be able
MSNBC
Dec 11, 2012 3:00pm PST
the message. they still want to bash obama supporters as griftors and moochers. and people accepting gifts. they seem willing even now to die on this hill of defending tax cuts for the rich. it's just absolutely inconceivable. and even those who understand that the party needs to change its tone are just talking about a different wrapping. marco rubio talks about basically saying the same things in spanish. saying the same things a bit more nicely. but they're not talking about changing their policies. they still don't have any policies, reverend al, which speak to the needs and aspirations of ordinary americans. >> now, richard, when you look at glenn beck. part of the gop's problem is the split between the extreme and the mainstream. here's beck railing against republicans today. listen to this. >> i'm really sick of these republicans who are just progressive republicans who try to talk down to everybody and tell us how smart they are and how everybody else is just so stupid. i don't speak for the republicans. i don't want to speak for the republicans. i speak for me. i tell you how i fe
MSNBC
Dec 11, 2012 1:00pm PST
a tax break and a tax cut, and this is just ludicrous. the american people have spoken. the re-election of president obama validates his particular approach here, which is that middle class people should not have a burden placed upon their shoulders. the working classes should not be punished, and god knows the working poor should not be further marginalized in this economy by trying to give goodies and treats to the republicans. they are playing grinch for -- the grinches who stole the christmas of working class people here, and president obama is trying to talk about the spirit of generosity and common sense of the american people. so what he's been trying to say is, i'm not going to budge, and i think he's got a reassured approach here. the american public has spoken. president obama has girded up his lions and he's digging in his heels. it may be one of these right before the stroke of midnight that he says, look, i have no other choice here. we're not going to have this mexican standoff, so to speak, and i have to get out of the way in the game of chicken. recogniz otherwi
CNBC
Dec 11, 2012 1:00pm EST
from president obama. >> i'm hopeful we can reach an agreement. this is a serious issue. there's a lot at stake. the person people sent us here to work together towards the best possible solution, and that means cutting spending. the president doesn't agree with our approach, he's got an obligation to put forward a plan that can pass both chambers of the congress. >> meanwhile despite all of the back and forth, the market is seemingly optimistic today. at least some form of a deal will be released. we've been up 100 points on the dow industrials for the past hour. senator mark warner of virginia perhaps putting it best saying compared to the size of our economy the current proposals are relatively small and government should step up and get a deal done. >> we're joined by representative lee terry, republican from nebraska represents the district home to a guy we all know, warren buffett. >> pretty famous guy. >> we spoke to some folks already today. we're not hearing many details. what details have you received specifically from the democrats on the spending cuts they are willing to ma
PBS
Dec 11, 2012 3:00pm PST
the white house a counterproposal in response to a new plan president obama offered up privately yesterday. a boehner aide said the g.o.p. is waiting for the president to identify spending cuts, a point the speaker made on the house floor earlier today while white house press secretary jay carney called on republicans to get serious about revenue. >> where are the president's spending cuts? the longer the white house slow-walks this process, the closer our economy gets to the fiscal cliff. now, if the president doesn't agree with our approach, he's got an obligation to put forward a plan that can pass both chambers of the congress. because right now the american people have to be scratching their heads and wondering when is the president going to get serious? >> on that question of whether or not we have put forward specific spending cuts, the answer is is we have. not only that, we signed law a trillion dollars in specific spending cuts. so if you combine what is signed into law with what we proposed versus the total absence of any specificity from the republicans for a single dollar in r
CNN
Dec 10, 2012 8:00pm PST
, we make some tough spending cuts on things we don't need and ask the wealthiest americans to pay a slightly higher tax rate. >> not so fast, mr. president. president obama says his plan reduces the deficit we $4 trillion over 10 years. forget the fact that it counts war savings which shouldn't count and go with the $4 trillion. house speaker john boehner said his plan cuts $2.2 trillion over 10 years. think about $16 trillion. that's how much debt this country has and according to bill gross, the man who runs the world's biggest bond fund, the guy that decides to lend money to the united states and how much we have to pay to borrow, says we have to cut spending or raise taxes by 11% of gdp over next 10 years and according to gross that's $1.6 trillion a year. that is, let's just make this clear, $1.2 trillion a year more than the president proposes and $1.38 trillion a year more than john boehner has offered. yeah. peanuts. i recently spoke with erskine bowles, the bowles in simpson-bowles and even he agreed that bill gross is right. >> absolutely. he's 100% right. i don't know i
CNBC
Dec 11, 2012 6:00am EST
. on a road trip yesterday, president obama indicated that he is willing to compromise, just not on that point about an increase in tax for relthy americans. meantime, speaker boehner says he is still waiting on specific spending cuts. joining us now for analysis, tony fratto, of hamilton place strategies and former white house press secretary and gerald bernstein former economic adviser to vice president joe biden. gentlemen, thank you for being here with us and getting this special day of coverage kicked off for us. >> rising early and rising above. >> exactly. let's talk about this. jared, it seems like things have gotten quieter. do you think that's the case? is that a good sign? >> i think it's probably a pretty good sign. if you look at this morning's papers, you see a number of articles suggesting that there's a bit more compromise in the air. my concern is that tomorrow's papers may say the opposite. so interestingly, there's been some pretty leak free discussions going on, which i actually think is a good thing. they're obviously big, outstanding questions. you mentioned the tax rate
CNN
Dec 11, 2012 6:00am PST
to president obama's sales pitch for his version of a compromise. >> when you put it all together, what you need is a package that keeps taxes where they are for middle class families, we make some tough spending cuts on things that we don't need, and then we ask the wealthiest americans to pay a slightly higher tax rate. >> brianna keilar is at the white house. brianna, are meetings going on outside of the public's view? is that your understanding? >> reporter: well, there are discussions. that is what we're told. as we understand it, obviously, the last meeting between the president and speaker boehner was on sunday. but we're told by both the white house and the speaker's office that discussions are ongoing, so, obviously, they can all pick up the telephone, and that, quote, the lines of communication are open. this is thing we're hearing over and over again. but make to mistake, there are no significant details of any progress, of any deal that has been struck. so at this point, we know that they still are pretty far apart. the white house still demanding and president obama said this y
CNBC
Dec 10, 2012 7:00pm EST
of communication are open. we don't know what it is speaker baner and barack obama are hashing out behind closed doors but more republicans are gravitating to the idea of compromising on a tax rate increase so long as they can get what they want for spending and entitlement cuts. listen. >> those rates are going up. we either act now to keep them from going up from as many people as possible or they will go up on everyone. that's a disaster. let's recognize reality, take care of as many people as we can. >> meanwhile, you're right. the president was in detroit where he continued his outside-inside game of running a campaign-style effort to jin up popular support for the fiscal cliff. because he was in michigan he took a whack at the proposed legislation -- the so-called right to work legislation. listen to the president. >> these so-called right to work laws don't have to do with economics. they have to do with politics. [ cheers ] they're really talking about giving you the right to work for less money. >> obviously a pro union crowd there. a lot of folks from the uaw there in detroit. but the
CNN
Dec 10, 2012 4:00pm PST
, mr. president. we need a little more than you're talking about. president obama says his plan reduces the deficit by $4 trillion over ten years. forget the fact it counts war savings which shouldn't count. let's go with the $4 trillion. john boehner said his plan cuts $2.2 trillion over ten years. you shouldn't be comparing those two nubs. what you should think about is $16 trillion. that's how much debt the country has. according to bill groesdz, the man who runs the biggest fund, ie, the man who decides how much we can spend and borrow, we have to cut spending or raise taxes. that's $1.6 trillion a year. that's $1.2 trillion a year more than the president proposes. and $1.38 trillion a year more than john boehner has offered. yeah. peanuts. i recently spoke with erskine bowles, the bowles of simpson-bowles, and he agrees that he's right. >> absolutely. he's 1pen hearst right. i don't know if 16 is the number, but i would be happier at $5 trillion or $6 trillion because that's what we need to solve the number long term. >> those are big numbers. i want to bring in john avlon right no
CSPAN
Dec 11, 2012 9:00am EST
and some other departments with big cuts, the food stamp program was set aside. president obama and i guess the democratic leaders said we won't even talk about it. no money, no savings, no review of food stamps. it can't be changed. it should be left alone. well, that's not a good plan. i as the ranking member on the budget committee have begun to look at the program to see how it is we have had such great increases. now the agriculture establishment says that every single dollar that's spent is needed for hungry people. i offered an amendment that would have reduced spending over ten years from $800 billion total to $792 billion, reducing spending by $8 billion based on closing a loophole, a categorical eligibility gimmick that should not be there, allowing people to receive benefits that didn't qualify for them. and it was said oh, you want people to be hungry. he was voted down. i thought it was a very modest, reasonable change. by the way, the agriculture spending in our government is different than a lot of people think. mr. president, what is the status of our time? the presiding off
CBS
Dec 11, 2012 7:00am PST
, shielding everyone from a tax increase. mr. obama wants to raise them for households earning more than $250,000 a year. he has so far resisted gop demands for spending cuts to health care or education. >> i'm not going to have a situation where the wealthiest among us, including folks like me, get to keep all our tax breaks and then we're asking students to pay higher student loans. >> reporter: even so, democrats worry mr. obama might cave to republicans, their biggest fear, the president will do what he considered in 2011, raise the eligibility age for medicare, a top house democrat monday warned the white house to tread lightly. >> now that would save a lot of money for the federal government and look good on the balance sheet but he's not going to vote for it and i'm not going to vote for it. >> reporter: this is a big part of the story to come. if there's a deal that's a huge break-through but lawmakers still have to vote for it and democrats oppose large structural cuts to medicare and most republicans oppose income tax rates on the so-called wealthy. that's why lawmakers were told no
Current
Dec 11, 2012 3:00am PST
about cutting the deficit, they would start with the war on drugs. i wish president obama would. all right. speaking of the president not a lot on his schedule today. pretty quiet day. gets the daily briefing this morning with the vice president at quarter to 10:00. and then he and the vice president are meeting for lunch in the private dining room. that tells me that there's going to be a lot of fiscal cliff negotiations privately going on throughout the day. or else maybe he's going back to ohio. who knows. jay carney will have a briefing at 1:00 and i will be there and i will tell you all about it tomorrow. oh my goodness! oh my gosh this looks amazing! [ male announcer ] our new maine stays! 15 entrees under $15 seafood, chicken and more! oo! the tilapia with roasted vegetables! i'm actually looking at the wood grilled chicken with portobello wine sauce. that pork chop was great! no more fast food friday's! we're going to go to red lobster. yep. [ male announcer ] come try our new menu and sea food differently! and intr
CNN
Dec 11, 2012 2:00am PST
the spending cuts he's willing to make as part of the balanced approach he promised the american people. that's from brendan buck, a press secretary for john boehner. meanwhile, president obama is standing firm on his commitment to sign no deal that doesn't include tax rates for the wealthiest americans. he mentioned some of that yesterday in a campaigning event in michigan, zoraida. >> his spokesperson said they're not going to negotiate through the media. a lot of people are thinking that is actually a good thing. >> correct. >> we have an urgent situation in washington right now. tell us about the deadlines. we know that everybody's leaving for the christmas break and the president had said that he wanted a deal done before then. >> that's absolutely correct. and we also have a de facto deadline that we're pushing up against in terms of on friday. if there is a deal, they will potentially need to reach it by friday. the legislative process takes time to cook, if you will, about two weeks potentially. they would potentially need to have a deal done by friday so that we don't actually go ove
CNN
Dec 11, 2012 9:00am PST
walsh, cnn, beirut. >> another story, just three weeks away from the tax hikes, spending cuts that make up fiscal cliff, we're now seeing house speaker boehner discussing the issue from the house floor. the first time he's commented publicly after meeting with president obama sunday. let's listen. >>> right flonow the american people have to be wondering when is the president going to get serious. i yield back. >> the chair recognizes the gentlemen from pennsylvania mr. altmire, for five minutes. >> i rise to recognize victor decarlo for receiving the -- >> we have been listening to the house speaker talking about negotiations taking place with the president obviously, a lot of people watching closely, trying to avoid the fiscal cliff which would mean tax hikes for almost all americans but also severe cuts as well. they are debating that publicly as well as privately. i want to talk more about the rebel group that we had mention before in syria, that is now designated a new terrorist organization, cnn's hala gorani joining us atlanta. hala, first of all, you've got the syrian rebels, th
FOX Business
Dec 11, 2012 11:00am EST
, mortgage interest deduction perhaps no longer the sacred cow. it is on the table for cuts to avoid going over that cliff. joining me with the take on how this affects you and the housing market overall is they're serious about that at this point. both candidates, president obama and mitt romney were not willing to address it in the debate. now it is on the table. what do you think our viewers should know. >> we have been talking about mortgage interest deduction back through the campaign but they're getting more specific for one possibility, the amount will be capped instead of 1 million or the rate at which mortgage could be deducted would be lower than the top marginal tax rate. cheryl: let's say i am deducting $100 so at this point it is thirty-five dollars but my deduction will be 28. >> one option, instead of being able to deduct $35 for every $100 of interest it might be $28. that is one option. cheryl: one third of filers in this country itemized deduction, a big piece of that is the mortgage interest deduction. half of those that use the mortgage interest deduction filers of the
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